Charles River Laboratories International (NYSE:CRL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. raised its target price for Charles River Laboratories International from $145.00 to $160.00, indicating a potential upside of 6.78% from the current stock price.
• Other research firms have varying opinions on the stock, with Mizuho lowering its price target to $155.00 while Barclays increased theirs to $165.00.
• Charles River Laboratories reported $3.12 earnings per share for the last quarter, exceeding expectations and reflecting a 0.6% year-over-year revenue increase.

Charles River Laboratories International (NYSE:CRL - Get Free Report) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $145.00 to $160.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the medical research company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 6.78% from the company's current price.

A number of other research firms have also recently weighed in on CRL. Mizuho dropped their price target on Charles River Laboratories International from $175.00 to $155.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Barclays raised their target price on shares of Charles River Laboratories International from $155.00 to $165.00 and gave the company an "equal weight" rating in a research note on Thursday. Wall Street Zen cut shares of Charles River Laboratories International from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and reduced their price target for the company from $188.00 to $182.00 in a research note on Friday, May 23rd. Finally, Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $174.92.

Charles River Laboratories International Price Performance

CRL stock traded down $0.49 on Thursday, reaching $149.84. 936,294 shares of the company's stock were exchanged, compared to its average volume of 1,288,239. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.78. Charles River Laboratories International has a twelve month low of $91.86 and a twelve month high of $230.02. The firm has a market cap of $7.36 billion, a PE ratio of -230.53, a P/E/G ratio of 5.67 and a beta of 1.48. The stock has a fifty day moving average of $155.03 and a 200-day moving average of $149.60.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.62. Charles River Laboratories International had a negative net margin of 0.66% and a positive return on equity of 15.19%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $983.76 million. During the same period last year, the firm posted $2.80 EPS. Charles River Laboratories International's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Charles River Laboratories International will post 9.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Joseph W. Laplume sold 500 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $145.41, for a total transaction of $72,705.00. Following the completion of the transaction, the executive vice president directly owned 19,513 shares in the company, valued at $2,837,385.33. This represents a 2.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Charles River Laboratories International

Hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas acquired a new stake in Charles River Laboratories International during the 1st quarter worth $1,231,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Charles River Laboratories International by 15.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,118 shares of the medical research company's stock worth $952,000 after purchasing an additional 817 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Charles River Laboratories International by 13.1% during the first quarter. Janney Montgomery Scott LLC now owns 44,500 shares of the medical research company's stock worth $6,698,000 after acquiring an additional 5,148 shares during the period. GAMMA Investing LLC raised its stake in shares of Charles River Laboratories International by 61.6% in the 1st quarter. GAMMA Investing LLC now owns 1,398 shares of the medical research company's stock valued at $210,000 after purchasing an additional 533 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Charles River Laboratories International during the first quarter worth about $213,000. Institutional investors own 98.91% of the company's stock.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).

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